With the vast majority of people using Zelle through their online banking app, we are making a change to our Zelle standalone app
The vision for Zelle® has always been a solution that allows people to send and receive money to and from those they know and trust directly between bank accounts. Today, the vast majority of people using Zelle to send money use it through their financial institution’s mobile app or online banking experience, and we believe this is the best place for Zelle transactions to occur.
Since Zelle launched in 2017, the number of financial institutions offering Zelle has grown significantly. In fact, there are more than 2,200 financial institutions on the Zelle network, and consumers and small businesses moved nearly half a trillion dollars on Zelle in the first half of this year, up 28% year-over-year.
When Zelle first launched, we also created a standalone Zelle-branded app for consumers whose banks or credit unions had not yet joined the network. With the strong growth of adoption by banks and credit unions, we now see just ~2% of transactions on the standalone app.
As a result of our growth, and because most people are now using Zelle in their financial institution’s mobile app or website, we are making a change to the Zelle standalone app.
Over the next few months, we will be phasing out the ability to enroll and transact within the standalone app. As we do that, we are encouraging those who use the standalone app to instead start using Zelle through a participating bank or credit union. Users of the app will continue to be able to access it, but the app will be dedicated to consumer education about scams and fraud and provide a list of the more than 2,200 banks and credit unions that offer Zelle.
If you are uncertain if your financial institution offers Zelle through its mobile banking app, you can check here or call your bank or credit union to ask.
Commonly asked questions
Q: What does this mean for consumers?
A: This change will not impact the vast majority of consumers who use Zelle to send or receive money. Again, the vast majority using Zelle to send money uses it through their financial institution. However, if you are one of the consumers that uses the Zelle standalone app, you will need to re-enroll through the mobile banking app of one of the more than 2,200 banks and credit unions that offer Zelle. If you have sent money to or received money from someone that uses the standalone app, you will also no longer be able to do so.
You have until March 2025 to re-enroll at another financial intuition to ensure you have Zelle access to pay those you know and trust.
Q: How are we managing this process?
A: First, we are working diligently to onboard financial institutions that want to join the Zelle network, so that their customers and members can access Zelle through their mobile banking apps.
Second, we are communicating directly and repeatedly with users of the standalone app to ensure that they are aware of the pending changes. These communications include a series of in-app notifications and emails. Additionally, users of the standalone Zelle app will continue to have access to their transaction history until March 2025, and we will continue to provide customer service for those users.
The adoption and growth of Zelle since 2017 is a testament to the valuable role the service plays and the national consumer demand for a way to send and receive funds from people they know and trust directly from their insured and regulated bank accounts.
Alongside onboarding new institutions to further expand access to the Zelle network, we continue to be committed to implementing policies and giving consumers tools and educational resources to get the most out of Zelle and be better educated in order to avoid scams and fraud.
We’re confident about our continued growth because we are working every day to become the largest, most secure, and most trusted P2P platform in payments.